stockholmer's Journal - Archives
While everyone was focused on the impending European collapse, the latest soon to be refuted rumors of a quick fix from the Welt am Sonntag notwithstanding, the Bank of International Settlements reported a number that quietly slipped through the cracks of the broader media. Which is paradoxical because it is the biggest ever reported in the financial world: the number in question is $707,568,901,000,000 and represents the latest total amount of all notional Over The Counter (read unregulated) outstanding derivatives reported by the world's financial institutions to the BIS for its semi-annual OTC derivatives report titled "OTC derivatives market activity in the first half of 2011." http://www.bis.org/publ/otc_hy1111.pdf Indicatively, global GDP is about $63 trillion if one can trust any numbers released by modern governments. Said otherwise, for the six month period ended June 30, 2011, the total number of outstanding derivatives surged past the previous all time high of $673 trillion from June 2008, and is now firmly in 7-handle territory: the synthetic credit bubble has now been blown to a new all time high. Another way of looking at the data is that one of the key contributors to global growth and prosperity in the past 10 years was an increase in total derivatives from just under $100 trillion to $708 trillion in exactly one decade. And soon we have to pay the mean reversion price.
What is probably just as disturbing is that in the first 6 months of 2011, the total outstanding notional of all derivatives rose from $601 trillion at December 31, 2010 to $708 trillion at June 30, 2011. A $107 trillion increase in notional in half a year. Needless to say this is the biggest increase in history. So why did the notional increase by such an incomprehensible amount? Simple: based on some widely accepted (and very much wrong) definitions of gross market value (not to be confused with gross notional), the value of outstanding derivatives actually declined in the first half of the year from $21.3 trillion to $19.5 trillion (a number still 33% greater than US GDP). Which means that in order to satisfy what likely threatened to become a self-feeding margin call as the (previously) $600 trillion derivatives market collapsed on itself, banks had to sell more, more, more derivatives in order to collect recurring and/or upfront premia and to pad their books with GAAP-endorsed delusions of future derivative based cash flows. Because derivatives in addition to a core source of trading desk P&L courtesy of wide bid/ask spreads (there is a reason banks want to keep them OTC and thus off standardization and margin-destroying exchanges) are also terrific annuities for the status quo. Just ask Buffett why he sold a multi-billion index put on the US stock market. The answer is simple - if he ever has to make good on it, it is too late.
Which brings us to the the chart showing total outstanding notional derivatives by 6 month period below. The shaded area is what that the BIS, the bank regulators, and the OCC urgently hope that the general public promptly forgets about and brushes under the carpet.
Try not to laugh. Or cry. Or gloss over, because when it comes to visualizing $708 trillion most really are incapable of doing so.
Another thing to bear in mind, in 2008, the BIS, IMF, World Bank, US Fed, ECB, BoC, etc etc all switched from a 'market to market' model for calculating the values of derivatives to a 'mark to model' methodology. This allows the banksters to basically, in layman's terms, assign pretty much any value they want to derivatives through manipulation of the formulas involved in determining the underlying asset valuations and the systemic relation of the OTC derivative to that underlying asset.
Quite simply, the actual fair market total notional value for all outstanding OTC derivatives is NOT $707 trillion, but is probably 50 to 70% higher, around $1.1 to $1.3 QUADRILLION. Furthermore, with extreme amounts of leverage now used by the system (in some cases 50 to 1 or more), just a small percentage move in the underlying assets can instantly bankrupt a huge firm, just ask the criminal, Mr Corzine, and MF Global.
This isn’t the first time the Arab world falls in love with the negative images it invents. This was also the case in the 1990s and in the 2000s, when the Arab world fell in love with the martyr phenomenon. Poets wrote songs of praise for the suicide bombers who blew up in Israel and media outlets spoke of them enthusiastically. However, the martyrs then started to explode in the streets of the Arab world as well.
The same happened when the Egyptians fell in love with the destructive military revolution they experienced in 1952, and this is happening now too: They have fallen in love with anarchy. The “million-man” rally at Cairo’s Tahrir Square has turned into a sanctified term for them, a value instead of a means, an admirable historical symbol, without realizing that there isn’t much that ties this rally to real democracy. This is in fact an aggressive, belligerent and destructive move for their society.
Indeed, Egypt is home to 87 million citizens, and a million babies were already born since Hosni Mubarak was toppled. After all, there is no problem in getting hundreds of thousands and even millions of people out to the streets. Yet the Egyptians failed to realize that they are sanctifying an aggressive and even violent move, which from now on shall threaten any kind of regime that emerges there. Moreover, it will now be difficult to fight against such sanctified phenomena, especially as Egyptians sanctified them themselves. After all, there will always be frustrated and disappointed people out there.
The huge expectations of what they refer to as the “January 25th Revolution” gave rise to huge disappointment and despair. In fact, not much has changed. More accurately: It changed for the worse. All national parameters declined: The economy, personal safety, and Egypt’s global stature. From a stable, powerful state, Egypt is turning into a country that is perceived as unsafe, overcome by despair, and dangerous. This is anarchy. When anarchy is being worshiped, it becomes the real ruler.
Substitute 99%ers, OWS, anti-austerity protesters, pro-peace/anti-war demonstrators, anti-fracking groups, etc etc for Egyptians............ and you get the drift of the authoritarian strand of thought on display here.
It calls for police and courts to make more use of existing “cyber sanctions” to restrict access to the social networks and instant messaging services in cases of hacking, fraud and online bullying. Sex offenders and those convicted of harrassment or anti-social behaviour also face more internet restrictions under the new strategy.
Similar orders have been imposed on those charged with involvement in a series of cyber attacks by the Anonymous and LulzSec groups earlier this year, while they await trial. Cyber sanctions were also used following the riots this summer. Two teenagers in Dundee were banned from the web for inciting riots via Facebook.
Officials are now looking into whether "cyber tag" technology could be used to monitor offenders and report to authorities if break their bail or sentence conditions by using the internet.
"The Ministry of Justice and the Home Office will consider and scope the development of a new way of enforcing these orders, using ‘cyber-tags’ which are triggered by the offender breaching the conditions that have been put on their internet use, and which will automatically inform the police or probation service," cyber security strategy said. It added that if the regime is a success restrictions on internet use could be imposed on "a wider group of offenders".
'Baggers Truly Co-opted:Tea Party Activists Challenge 'Occupy Black Friday' w/ 'BUYcott Black Friday
Anti-Occupy Wall Street" groups are taking on the protesters of "Occupy Black Friday" with "BUYcott Black Friday." Liberate Philadelphia/Liberate America, a Tea Party coalition of groups countering the "Occupy Wall Street" movement, are challenging the latest move by Occupy Wall Street protesters to occupy or boycott publicly traded retailers on Black Friday by instead encouraging consumers to shop on Black Friday to help the economy recover.
"At a time when our economy is most fragile and ratings agencies are talking about another downgrade of the U.S. credit rating, it's completely irresponsible for Occupy Wall Street to attempt to bring the U.S. economy to a halt on the busiest shopping day of the year," Liberate organizer and a spokesman for the Tea Party, John Sullivan, stated in a press release. http://campaign.r20.constantcontact.com/re...
Although "Occupy Black Friday" is not meant to be an anti-capitalist movement, according to the group's website, http://www.stopblackfriday.com/2011/11/ret... supporters of Liberate Philadelphia/Liberate America claim that the entire "Occupy Wall Street" movement is not in support of a free market.
"Occupy's message is frequently one of destroying the American free market," Liberate organizer and President of the Independence Hall Tea Party Association, Teri Adams, stated in a Liberate Philadelphia/Liberate America press release. http://campaign.r20.constantcontact.com/re...
Any semblance that this sorry, bitter group of stooges had to the original, pre-Koch Brothers Tea Party has been completely decimated. Nothing but right-wing corporate-whore shock troops they be.
The other day, I was listening to the voice of “liberal” radio, NPR, and was surprised to hear its bizarre, and yet quite candid, report on what it apparently views to be one of the more hideous aspects of the Gadhafi years – a modern welfare state which looked after working people.
Thus, without tongue in cheek, or any note of irony, NPR, in its November 14 report, entitled, “Libya’s Economy Faces New Tests After Gadhafi Era,” explained that the biggest impediment to the new economic era is the Libyan worker who was simply too coddled by Gaddafi.
NPR thus cited a 2007 book on the Libyan economy by authors Otman and Karlberg who called “the Libyan worker under Gadhafi ‘one of the most protected in the world,’” receiving job tenure, government subsidies of around $800 a month for the average Libyan household, and gasoline at a mere 60 cents a gallon. NPR, citing the same book, explained that workers now freed from such a tyrannical world by NATO bombs, have been left with a “’subsidy mentality’” and a “’job-for-life outlook which has ill-prepared Libyans for the more aggressive and cutthroat world of competition.’”
Of course, had NPR gone further, they could have also explained that, according to the statistics of the United Nations Development Programme, Libya, at the time of the NATO invasion, had the highest human development indicators (which measure levels of health, education and income) in all of Africa, with a life expectancy of 74.5; undernourishment of the population at under 5%; and adult literacy at over 88%. Libya was in fact ranked 53 in the world out of 169 comparable countries, ranking, for example, above Turkey, (post-Soviet) Russia, Brazil and Costa Rica in terms of the human development indicators.
Payback Time in Libya
by PATRICK COCKBURN
“This was always a civil war, and the victors are not merciful”
The detention of 7,000 people in prisons and camps by the anti-Gaddafi forces is not surprising. The conflict in Libya was always much more of a civil war between Libyans than foreign governments pretended or the foreign media reported.
The winning anti-Gaddafi militia are not proving merciful. Often they have had relatives killed in the fighting or imprisoned by the old regime who they want to avenge. Sometimes they come from tribes and towns traditionally hostile to neighboring tribes and towns. Gaddafi supporters are being hunted down. According to one person in Gaddafi’s home town of Sirte, they are facing a “continuing reign of terror”.
“There is a deep and spreading frenzy, particularly among some of the youth militia and the Islamists, to hunt down anyone associated with the former regime,” this person said.
The National Transitional Council, whose control is largely theoretical, is not in a position to stop this purge because many of its members are themselves frightened of being accused of links with the old regime.
THE ROVING EYE
How the West won Libya
By Pepe Escobar
Welcome to the new Libya. Intolerant Islamist militias will turn the lives of Libyan women into a living hell. Hundreds of thousands of Sub-Saharan Africans - those who could not escape - will be ruthlessly persecuted. Libya's natural wealth will be plundered. That collection of anti-aircraft missiles appropriated by Islamists will be a supremely convincing reason for the "war on terror" in northern Africa to become eternal. There will be blood - civil war blood, because Tripolitania will refuse to be ruled by backward Cyrenaica.
As for remaining dictators everywhere, get a life insurance policy from NATO Inc; Egypt's Hosni Mubarak, Tunisia's Zine al-Abidine Ben Ali and Yemen's Ali Abdullah Saleh were clever enough to do it. We all know there will never be R2P to liberate the Tibetans and Uyghurs, or the people in that monster gulag Myanmar, or the people in Uzbekistan, or the Kurds in Turkey, or the Pashtuns on both sides of the imperially drawn Durand Line.
We also know that change the world can believe in will be the day NATO enforces a no-fly one over Saudi Arabia to protect the Shi'ites in the eastern province, with the Pentagon launching a Hellfire carpet over those thousands of medieval, corrupt House of Saud princes.
It won't happen. Meanwhile, this is the way the West ends; with a NATO bang, and a thousand barbaric, lawless whimpers. Disgusted? Get a Guy Fawkes mask and raise hell.
PRESIDENT Mugabe yesterday said homosexuals and lesbians will be punished severely for their behaviour which is inconsistent with African and Christian values.
He made the remarks at the launch of the Tongogara Community Share Ownership Tru-st at Unki Mine.
Zimbabweans told Copac during the outreach programme that they want homosexuality outlawed.
Said the President: "Do not get tempted into that (homosexuality). You are young people. Mukaenda ikoko we will punish you severely."
He took a swipe at recent utterances by British Prime Minister David Cameron that London will not aid countries that do not respect gay rights.
Mr Cameron said his government had engaged a number of African countries to influence them to embrace the practice.
"It becomes worse and Satanic when you get a Prime Minister like Cameron saying countries that want British aid should accept homosexuality.
Mugabe calls David Cameron 'satanic' for backing gay rights
Mr Mugabe said that homosexuals were "worse than pigs and dogs" and warned those practising in his country: "We will punish you severely."
His comments come as Zimbabweans get ready to vote next year on a new constitution that could offer some legal protection to homosexuals in Zimbabwe. At present, those caught engaging in same-sex relationships face prison terms. Britain has already cut aid to Malawi by £19 million following the sentencing of two gay men to 14 years hard labour. They were later pardoned.
Mr Cameron raised the idea of linking funding to human rights issues at the end of the Commonwealth summit in October.
Henry Bellingham, the Africa Minister, said during a recent visit to Malawi that it was not Britain's intention to force countries such as Uganda, Botswana, Malawi, Zimbabwe and Ghana to adopt gay-friendly laws.
But perhaps the most stunning piece of news we’re getting in the wake of the MF Global collapse is in the clients of the firm who managed to get away scot-free, with no freezing of accounts or capital — particularly the accounts of the mega-cap independent oil company Koch Industries, run by the politically active Koch brothers.
A recent report in Reuters http://www.reuters.com/article/2011/11/11/... has described the billions of dollars of client accounts that were withdrawn from MF Global in the last few weeks before their collapse, including 8 accounts from Koch industries engaged in oil trade that were transferred to Mizuho Securities after years of a steady and profitable relationship with MF. The Reuters piece concentrates on the possibilities of legal “clawback” of client money if the bankruptcy does not allow remaining client accounts to be made whole.
The Reuters piece misses the point.
Both the Commodity Futures Trading Commission and the Chicago Mercantile Exchange were charged with overseeing MF Global, their clearing member. If we are to believe them, they had no idea of any difficulties within the firm before customer accounts went missing just a few days before the collapse. But someone clearly knew of the cratering positions and imminent collapse of MF Global, as billions of dollars of accounts were “coincidentally” withdrawn. And what do the Koch brothers say was the reason for these withdrawals? There’s been no comment.
For those still battling the excesses of 2008 and those occupying Wall Street, this has been another proof of the inside, “fixed” operation of the financial markets. When banks go wrong, betting big with other people’s money and losing, they can be sure of a bailout that guarantees their bonuses and businesses. And when firms are tailspinning to disaster, the richest and most financially influential partners are sure to get a phone call — a “heads-up” – to save their assets and leave regular people with the mess.
The German government likes to pride itself on its solid finances and claim the country is a safe haven for investors. But Germany's budget management is not nearly as exemplary as it would have people believe, and the national debt is way over the EU's limit. In some respects, Italy's finances are in much better shape.
When it comes to fiscal stability, frugality and responsible economic management, German Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble have only one role model: themselves. The chancellor praises herself and her team for having "a clear compass for reducing debt," and insists: "Getting our finances in order is good for our country." Her finance minister, a member of Merkel's conservative Christian Democrats, is no less effusive. Germany, says Schäuble, is a "safe haven" for capital from around the world, because "the entire world has great confidence in both the performance and soundness of the fiscal policies of the Federal Republic of Germany." Developments in the financial markets seem to bear him out. Last week, the suspicions of international investors reached the stable core of the euro zone. Investors embarked on a massive selloff of securities issued by supposedly model countries like Finland and Austria and sought refuge in German government bonds.
Role Model Position at Risk
But it is debatable how much longer Germany can be seen as a refuge of stability and security. In reality, German government finances are not nearly in as good shape as the chancellor and the finance minister would have us believe. The way that certain important indices are developing suggests that Germany may not retain its position as a role model in the long term. Government debt as a percentage of GDP is already at more than 80 percent, which compared to other European Union countries is by no means exemplary, but in fact average at best.
When it comes to their debt-to-GDP ratios, even ailing countries like Spain are in better shape, with values significantly lower than 80 percent. Critics, irritated by Merkel's and Schäuble's overly confident rhetoric, are beginning to find fault with Europe's self-proclaimed model country. "I think that the level of German debt is troubling," says Luxembourg Prime Minister Jean-Claude Juncker, whose country has a debt-to-GDP ratio of just 20 percent.
(Reuters) - A U.S. judge on Tuesday sentenced Antoin "Tony" Rezko, a former Chicago fundraiser for President Barack Obama, to 10-1/2 years in prison for corruption and extortion.
Rezko's conviction was among a slew of guilty pleas that led to the conviction in two trials of former Democratic Illinois Governor Rod Blagojevich and several of his aides. A Syrian immigrant who earned millions in the real estate and restaurant businesses, Rezko has been imprisoned since his 2008 conviction on 16 fraud and attempted bribery counts.
"Enough is enough. Corruption in Illinois has to stop," U.S. District Judge Amy St. Eve in handing down sentence to the now-gaunt, 56-year-old Rezko.
Rezko became a minor campaign issue for Obama during the 2008 presidential race. The two had become close friends and Rezko had raised tens of thousands of dollars for the then-Illinois state senator's successful U.S. Senate and presidential campaigns.
Dismissed as a “nobody” by Japan’s nuclear industry, seismologist Katsuhiko Ishibashi spent two decades watching his predictions of disaster come true: First in the 1995 Kobe earthquake and then at Fukushima. He says the government still doesn’t get it.
The 67-year-old scientist recalled in an interview how his boss marched him to the Construction Ministry to apologize for writing a 1994 book suggesting Japan’s building codes put its cities at risk. Five months later, thousands were killed when a quake devastated Kobe city. The book, “A Seismologist Warns,” became a bestseller.
That didn’t stop Haruki Madarame, now head of Japan’s Nuclear Safety Commission, from dismissing Ishibashi as an amateur when he warned of a “nuclear earthquake disaster,” a phrase the Kobe University professor coined in 1997. Ishibashi says Japan still underestimates the risk of operating reactors in a country that has about 10 percent of the world’s quakes.
“What was missing -- and is still missing -- is a recognition of the danger,” Ishibashi said, seated in a dining room stacked with books in his house in a Kobe suburb. “I understand we’re not going to shut all of the nuclear plants, but we should rank them by risk and phase out the worst.”
dead wrong with this:
"But Gerry Thomas, professor of molecular pathology at the department of surgery and cancer at Imperial College, London, describes his statements about heart disease caused by caesium as "ludicrous". She says that radioactive elements do not bind to DNA. "This shows how little he understands about basic radiobiology."
Radioactive particles DO BIND to DNA, and Dr Thomas has been a pro-nuke shill this entire Fukushima incident,
DNA Radioactive Binding links:
A group at the U.S. Department of Energy's Ames Laboratory (Ames, IA) has added a new twist to inductively-coupled plasma/mass spectrometery (ICP/MS), an established analytical technique, thereby dramatically advancing the state of the art for identifying the ultratrace metals in biological and environmental materials. The new analytical method promises to explain how radioactive and nonradioactive metals bind to proteins and DNA at very low concentrations.
Uranium’s Effect On DNA Established
The use of depleted uranium in munitions and weaponry is likely to come under intense scrutiny now that new research that found that uranium can bind to human DNA. The finding will likely have far-reaching implications for returned soldiers, civilians living in what were once war-zones and people who might live near uranium mines or processing facilities.
Uranium - when manifested as a radioactive metal - has profound and debilitating effects on human DNA. These radioactive effects have been well understood for decades, but there has been considerable debate and little agreement concerning the possible health risks associated with low-grade uranium ore (yellowcake) and depleted uranium.
Now however, Northern Arizona University biochemist Diane Stearns has established that when cells are exposed to uranium, the uranium binds to DNA and the cells acquire mutations, triggering a whole slew of protein replication errors, some of which can lead to various cancers. Stearns' research, published in the journals Mutagenesis and Molecular Carcinogenesis, confirms what many have suspected for some time - that uranium can damage DNA as a heavy metal, independently of its radioactive properties. "Essentially, if you get a heavy metal stuck on DNA, you can get a mutation," Stearns explained. While other heavy metals are known to bind to DNA, Stearns and her team were the first to identify this characteristic with uranium.
Sequence-independent DNA binding and replication initiation by the human origin recognition complex
Thomas J. Kelly3,6, and
Johannes C. Walter2,5
Properties of DNA-affinity-purified HsORC. (A) DsDNA affinity purification of HsORC. HsORC prepared as in Figure 1A was further purified by adsorption to magnetic beads containing immobilized DNA followed by elution with 500 mM NaCl as in Figure 3B. SDS-PAGE was used to analyze 1 μL of input, 2 μL of unbound, and 1 μL of eluted fractions, and the individual subunits were detected by silver staining. (B) Titration of protein. DNA-affinity-purified HsORC at the indicated concentrations was incubated with 0.5 nM radiolabeled lamin B2 ori II probe in the presence or absence of 1 mM ATP. The amount of radioactive lamin B2 ori II DNA bound by HsORC was determined by the nitrocellulose filter-binding assay.
Radiation-Induced Binding of DNA from Irradiated Mammalian Cells to Hydroxyapatite Columns
Kathryn D. Held, Jane Mirro, Deborah C. Melder, William F. Blakely, Nancy L. Oleinick and Song-Mao Chiu
Vol. 123, No. 3 (Sep., 1990), pp. 268-274
(article consists of 7 pages)
In experiments designed to measure radiation-induced DNA damage using the DNA unwinding-hydroxyapatite chromatography technique, we observed that under some experimental conditions a significant proportion of the test DNA became tightly bound to the hydroxyapatite (HA) and could not be released even with a high concentration of phosphate buffer. Approximately 5-10% of DNA from unirradiated cells binds to the HA. With increasing radiation doses in air, the fraction of bound DNA increases, reaching about 30% at about 35 Gy. The binding exhibits many of the characteristics of a radiation-induced cell lesion: the proportion of DNA retained by the HA is less when cells are irradiated under hypoxic conditions or in the presence of the thiol radioprotector dithiothreitol; and the binding decreases when an incubation period is allowed between irradiation and harvest of the cells for assay.
As for Dr Gerry Thomas shilling:
Thursday 17 March 2011.
As fear spreads in Japan, radiation expert Professor Gerry Thomas tells Channel 4 News: "We are panicking that poor, savaged population about radiation that is not going to harm them."
But some nuclear experts say that the risk of a radiation leak is being exaggerated. Professor Gerry Thomas is Chair in Molecular Pathology at Imperial College, London and an expert in radiation impact. She says that the precautions taken so far should be sufficient to protect people near the site, telling Channel 4 News: "There is no significant release of radiation yet, it's really only the workers that are at risk. We are not looking at an accident anything like Chernobyl.
We’ve got to stop these sorts of reports coming out, because they are really upsetting the Japanese population,” says Gerry Thomas at Imperial College London, who is attending the meeting. “The media has a hell of a lot of responsibility here, because the worst post-Chernobyl effects were the psychological consequences and this shouldn’t happen again.” <...>
tell these children that the worst effects were 'psychological'
The fallout from the radiation leak at the Fukushima Daiichi nuclear reactor in Japan may be less severe than predicted. <...>
How did the population of Fukushima prefecture dodge the radioactivity? Gerry Thomas at Imperial College London, director of the Chernobyl Tissue Bank, says the answer is simple. “Not an awful lot (of radioactive material) got out of the plant – it was not Chernobyl.” The Chernobyl nuclear disaster released 10 times as much radiation as Fukushima Daiichi.
(Dr Thomas,once again shown to be a shill uses the low-end figure provided early on by Japan Gov't and Tepco) Subsequently contradicted by numerous scientific estimates
New NILU, ZAMG study: Release of radioactive xenon from Fukushima more than double Chernobyl — Largest in history — Started “immediately” after quake
Excerpts from the Oct. 21 joint press release by ZAMG and BOKU http://www.zamg.at/docs/aktuell/20111021_f...
“A new study by an international team of researchers estimates the emissions of the radioactive noble gas Xenon‐133 and the aerosol‐bound nuclide Caesium‐137 from the Japanese NPP Fukushima Daiichi.”
“The main result of the investigation is that the emissions from the power plant started earlier, lasted longer and are therefore higher than assumed in most studies conducted before.”
“Regarding the radioactive noble gas Xenon‐133, the results indicate an emission of 16700 Peta‐Becquerel (1 Becquerel is one radioactive decay per second, 1 Peta‐Becquerel equals 1015 Bq). This is the largest civilian noble gas release in history, exceeding the Chernobyl noble gas release by a factor of 2.5. There is strong evidence that emissions started already on 11 March 2011 at 6:00 UTC, which is immediately after the big earthquake. Xenon‐133 is neither ingested nor retained in the inhalation process and therefore of less health concern, but it is important for understanding the accident events.”
“Regarding Cesium‐137, which is of high relevance for human health due to its physical properties and the long half‐life time of 30 years, the new estimate shows that emissions started earlier and ended later than assumed in most studies so far. The total release amounts to 36 PBq, which equals 40% of the Chernobyl emissions. About 20% of the caesium was deposited on Japanese territory, while about 80% was deposited in the water.”
“The study was conducted by a team of researchers from the Norwegian Institute for Air Research (NILU) in Kjeller, Norway, the Institute for Meteorology of the University of Natural Resources and Life Sciences (BOKU‐Met) in Vienna, the Austrian Central Institute for Meteorology and Geodynamics (ZAMG) in Vienna, the Institute of Energy Technologies from the Technical University of Catalonia in Barcelona (INTE), Spain, and by the Universities Space Research Association, Columbia, MD, USA.”
and here is Dr Thomas playing the nuclear corporate shill, this time working directly for Irish nuclear lobbying group (funded by General Electric, Westinghouse, B&W, etc) "Better Environment with Nuclear Energy" (BENE) with the support of many of the corrupt politicians involved in the banking scams and other 'notables' such as Sir Bernard Ingham, once Margaret Thatcher's Press Secretary :
Sean Moncrieff, on his Afternoon show on Newstalk 106, interviewed Dr Gerry Thomas of the Chernobyl Tissue Bank (CTB) on the health impacts of Chernobyl. CTB is the first international cooperation that seeks to establish a collection of biological samples from tumours and normal tissues from patients for whom the aetiology of their disease is known - exposure to radioiodine in childhood. The CTB confirms that the only detectable cancer impact of the accident was Thyroid cancer in those children and young adolescents who lived close to Chernobyl in 1986. The incidents of Thyroid cancer fell rapidly since then, in line with the decay of the radioactive Iodine (which has a half-life of 8 days). There has been no detectable increase in other cancers or in genetic birth defects. There are, of course, the deep psychological impacts brought about by the fear of radiation. Dr Thomas says that our fear of radiation would appear to be too great given our improved knowledge of the known impacts following studies of the large radioactivity releases that have occurred to date.
BTW, in this video http://www.youtube.com/watch?v=Qe6lxsl6Pbo... , Dr Chris Busby tells people to go buy supplements cheaply at any store
nice hit piece!!!!
NEW YORK (TheStreet) -- Focus Media (Nasdaq:FMCN) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
Highlights from the ratings report include:
■ FMCN's very impressive revenue growth greatly exceeded the industry average of 19.2%. Since the same quarter one year prior, revenues leaped by 53.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
■ FMCN's debt-to-equity ratio is very low at 0.02 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 3.87, which clearly demonstrates the ability to cover short-term cash needs.
■ Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
Focus Media Holding Limited, a multi-platform digital media company, operates liquid crystal display (LCD) network using audiovisual digital displays in China. The company has a P/E ratio of 25.3, above the average media industry P/E ratio of 12.2 and above the S&P 500 P/E ratio of 17.7. Focus Media has a market cap of $3.5 billion and is part of the services sector and media industry. Shares are up 15.3% year to date as of the close of trading on Friday.
and a few hours later.....................
and the Republicans want to privatise Social Security into THIS market!!!???!!!
so much lose!
The best way for the US to stop Iran developing nuclear weapons is to dial down the rhetoric and adopt some diplomacy.
Imagine, for a moment, that you are an Iranian mullah. Sitting crosslegged on your Persian rug in Tehran, sipping a cup of chai, you glance up at the map of the Middle East on the wall. It is a disturbing image: your country, the Islamic Republic of Iran, is surrounded on all sides by virulent enemies and regional rivals, both nuclear and non-nuclear.
On your eastern border, the United States has 100,000 troops serving in Afghanistan. On your western border, the US has been occupying Iraq since 2003 and plans to retain a small force of military contractors and CIA operatives even after its official withdrawal next month. Pakistan, a nuclear-armed nation, is to the south-east; Turkey, America's Nato ally, to the north-west; Turkmenistan, which has acted as a refuelling base for US military transport planes since 2002, to the north-east. To the south, across the Persian Gulf, you see a cluster of US client states: Bahrain, home to the US Fifth Fleet; Qatar, host to a forward headquarters of US Central Command; Saudi Arabia, whose king has exhorted America to "attack Iran" and "cut off the head of the snake". http://www.guardian.co.uk/world/2010/nov/2...
Then, of course, less than a thousand miles to the west, there is Israel, your mortal enemy, in possession of over a hundred nuclear warheads and with a history of pre-emptive aggression against its opponents. The map makes it clear: Iran is, literally, encircled by the United States and its allies.
If that wasn't worrying enough, your country seems to be under (covert) attack. Several nuclear scientists have been mysteriously assassinated and, late last year, a sophisticated computer virus succeeded in shutting down roughly a fifth of Iran's nuclear centrifuges. Only last weekend, the "pioneer" of the Islamic Republic's missile programme, Major General Hassan Moghaddam, was killed – with 16 others – http://www.guardian.co.uk/world/2011/nov/1... in a huge explosion at a Revolutionary Guards base 25 miles outside Tehran. You go online to discover western journalists reporting that the Mossad is believed to have been behind the blast.
Ex-Inspector Rejects IAEA Iran Bomb-Test-Chamber Claim
WASHINGTON, Nov 19, 2011 (IPS) - A former inspector for the International Atomic Energy Agency (IAEA) has repudiated its major new claim that Iran built an explosives chamber to test components of a nuclear weapon and carry out a simulated nuclear explosion.
The IAEA claim that a foreign scientist - identified in news reports as Vyacheslav Danilenko - had been involved in building the alleged containment chamber has now been denied firmly by Danilenko himself in an interview http://www.rferl.org/content/russian_scien... with Radio Free Europe published Friday.
The latest report http://isis-online.org/uploads/isis-report... by the IAEA cited "information provided by Member States" that Iran had constructed "a large explosives containment vessel in which to conduct hydrodynamic experiments" - meaning simulated explosions of nuclear weapons - in its Parchin military complex in 2000.
The report said it had "confirmed" that a "large cylindrical object" housed at the same complex had been "designed to contain the detonation of up to 70 kilograms of high explosives". That amount of explosives, it said, would be "appropriate" for testing a detonation system to trigger a nuclear weapon. But former IAEA inspector Robert Kelley has denounced the agency's claims about such a containment chamber as "highly misleading".
MF Global Trustee - Commingling Shortfall May Be Double Previous Estimate,Could Reach "$1.2 Billion"
The day after MF Global filed, we calculated http://www.zerohedge.com/news/mf-global-cl... that contrary to widely accepted media expectations that the client theft at MF Global was limited to "only" $600 million, the true client loss (and thus, MF Global executive felony) was in fact up to $1.5 billion. Sure enough, three weeks in the Trustee has come to see things in a comparable light. From Reuters: "The trustee liquidating MF Global Holdings Ltd'sbroker-dealer unit said on Monday that the apparent "shortfall" of customer funds may be larger than the futures brokerage had reported prior to its bankruptcy. "The trustee believes that even if he recovers everything that is at U.S. depositories, the apparent shortfall in what MF Global management should have segregated at U.S. depositories may be as much as $1.2 billion or more," the trustee, James Giddens, said in a statement. He added that the amount could change. Giddens also said he expects in early December to transfer 60 percent of what is in segregated customer accounts for U.S. futures positions, pending court approval. He said the transfer would require $1.3 billion to $1.6 billion to implement, exhausting much of the assets under the trustee's control.
MF Global was run by former Goldman Sachs & Co chief and New Jersey governor Jon Corzine before its Chapter 11 filing on Oct. 31. The filing came after the New York-based company revealed that it made a $6.3 billion bet on European sovereign debt. Corzine resigned on Nov. 4." In other news, major Chicago-based exchanges are fine (no seriously: they got some very sweet preferential terms in the account transfer... to the detriment of former MF Global accounts). And it goes without saying that Corzine has not even been questioned yet.
Tiny Rule Change at Heart of MF Global Failure: William D. Cohan (Internal Repo's and Rule 1.25)
Nov. 16 (Bloomberg) -- Laurie R. Ferber has quite a resume. She is currently the general counsel of MF Global Holdings Ltd., the New York-based futures and commodities brokerage that filed for bankruptcy on Oct. 31, listing some $40 billion in liabilities.
Before joining MF Global in 2009, a year or so before Jon Corzine became its chairman and chief executive officer, Ferber was general counsel and chief regulatory officer at the International Derivatives Clearing Group LLC, which clears interest-rate swaps.
Before that, she spent more than 20 years at Goldman Sachs Group Inc., where first she was general counsel for J. Aron & Co., a commodities business that Goldman Sachs bought in 1981, and then was the co-general counsel of Goldman’s principal business, known as FICC -- for Fixed Income, Currency and Commodities -- when J. Aron was merged into the rest of Goldman’s fixed-income division.
But at the moment, her greatest significance may be as a long-time advocate for revisions to a little-known and vastly underappreciated Commodities Futures Trading Commission rule called Regulation 1.25.
Breaking: Jon Corzine, Seven Banks Sued for MF Global Collapse
A lawsuit http://newsandinsight.thomsonreuters.com/L... / seeking damages for investors in the now-bankrupt MF Global names former CEO Jon Corzine, along with units of Bank of America, Citigroup, Deutsche Bank, Goldman Sachs, Jefferies, JPMorgan Chase, and Royal Bank of Scotland, who all collected fees, but failed to foresee the firm's collapse, according to the suit. Some of MF Global's customers will start having access to their money, as 60 percent of the company's cash accounts have been unlocked, while many others still have their life savings frozen.
By now, even the mainstream media is realizing what I’ve been saying for well over a year: that the EU in its current form is finished. I initially believed that we would see Greece kicked out of the EU. However, at this point it looks much more likely that it will be GERMANY who leaves. The reason is quite simple really. Germany WILL NOT tolerate debt monetization. They’ve seen how that situation plays out (Weimar) and will not allow it again, END OF STORY. If the ECB opts to print money, Germany is out.
So… the only other option for the EU to last is the leveraged EFSF. However, as we’ve seen, that option is a dead end as well: No new Euro zone money for debt crisis at G20. The Euro zone won verbal support but no new money at a G20 summit on Friday for its tortured efforts to overcome a sovereign debt crisis, while Italy was effectively placed under IMF supervision. Leaders of the world's major economies, meeting on the French Riviera, told Europe to sort out its own problems and deferred until next year any move to provide more crisis-fighting resources to the International Monetary Fund.
"There are hardly any countries here which said they were ready to go along with the EFSF (Euro zone rescue fund)," German Chancellor Angela Merkel told a news conference. http://www.reuters.com/article/2011/11/04/... Remember, the EFSF failed to even stage a 3 billion Euro bond auction without buying some of the bonds itself. And with no one in the G20 wanting to fund the EFSF, the EFSF is in no way going to backstop Europe.
So there are now only two REAL outcomes:
1) The ECB prints (and Germany walks) resulting in the Euro losing at the minimum 30-40% of its value
2) Massive defaults and debt restructuring accompanied by systemic failure in Europe
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